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BlackRock profit rises 2.5% as asset growth boosts fee income -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The BlackRock logo can be seen outside its New York City offices on October 17, 2016. REUTERS/Brendan McDermid

(Reuters) – BlackRock Inc (NYSE) announced a 2.5% increase in its fourth quarter profit Friday. The world’s biggest money manager reported an increase of fee income, with assets under management reaching a new high of more than $10 trillion.

The adjusted profit rose from $1.57 trillion, or $10.18 a share, to $1.61 Billion, Dec. 31, compared with a year ago.

According to Refinitiv’s IBES data, analysts expected the company to post a profit of $10.16 per shares.

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